Liberty Back On The Hook For Asbestos Claims

Law360, New York (March 17, 2009, 12:00 AM EDT) -- Insurer Liberty Mutual Co. will bear higher costs in thousands of future asbestos claims, now that a state court judge has ruled the insurer cannot back out of a court-brokered settlement.

Judge W. Erwin Spainhour ordered Liberty Mutual to abide by a settlement negotiated with industrial company SPX Corp., in an order handed down on Friday in the State of North Carolina Superior Court for the County of Mecklenburg.

Liberty's lawyers contended the negotiator was not authorized to make an agreement and that it was not...
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